Eventbrite (NYSE:EB) Price Target Cut to $6.00

Eventbrite (NYSE:EB) had its target price reduced by KeyCorp from $13.00 to $6.00 in a report released on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other brokerages also recently commented on EB. Truist Financial dropped their price objective on shares of Eventbrite from $17.00 to $11.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective on Eventbrite from $11.00 to $9.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler lowered their target price on shares of Eventbrite from $13.00 to $9.00 and set an overweight rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Eventbrite currently has an average rating of Moderate Buy and an average target price of $10.29.

Eventbrite Trading Down 0.9 %

Eventbrite stock traded down $0.05 during trading on Tuesday, reaching $5.50. 3,221,580 shares of the company were exchanged, compared to its average volume of 1,730,542. Eventbrite has a 52-week low of $5.00 and a 52-week high of $11.90. The company has a market capitalization of $560.29 million, a P/E ratio of -21.63 and a beta of 2.44. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99. The stock’s 50 day simple moving average is $5.62 and its two-hundred day simple moving average is $7.18.

Eventbrite (NYSE:EB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. The company had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. On average, equities research analysts expect that Eventbrite will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now owns 357,839 shares of the company’s stock, valued at $1,975,271.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 17.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its position in Eventbrite by 217.7% during the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after purchasing an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Eventbrite in the fourth quarter valued at $33,000. Principal Financial Group Inc. purchased a new stake in shares of Eventbrite in the first quarter valued at $58,000. Victory Capital Management Inc. purchased a new stake in shares of Eventbrite in the fourth quarter valued at $89,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Eventbrite in the third quarter valued at $108,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Eventbrite Company Profile

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.